Washington DC – Following a hearing on Congressional insider trading in the House Financial Services Committee, Congressman Sherman (D-CA) released the following statement. “The STOCK Act may be a good start to curb unethical insider trading, but more ought to be done. I have not traded individual stocks while serving in Congress, and I believe other Members
should be discouraged from, perhaps prohibited from, holding and trading individual stocks.” Congressman Brad Sherman, born and raised in southern California, represents California’s San Fernando Valley, and has served in the U.S. House of Representatives since 1997.
Congressman Sherman is serving his eighth term in Congress, and currently resides in Sherman Oaks, CA. Congressman Sherman is a senior member of the House Foreign Affairs Committee and serves as the senior Democrat on the Subcommittee on International Terrorism, Nonproliferation and Trade. He is also a senior member of the Financial Services Committee. During his tenure in Congress, Sherman has developed a reputation as a strong advocate for fiscal responsibility, a balanced budget, federal aid to education, the interests of working families, strong environmental standards, the protection of Social Security and Medicare, and policies to expand U.S. exports. According to USA Today and The Washington Post, Congressman Sherman led the effort to prevent taxpayer dollars from being used for unlimited bailouts to Wall Street giants. In 2009, he took an important role in crafting legislation that ended bailouts putting taxpayers on the hook for risky Wall Street behavior, by successfully defeating the Treasury Department’s proposal for permanent, unlimited TARP.